GLOBAL CROSSING TO ADD NEW 2.5 TERABIT-PER-SECOND ATLANTIC CABLE

GLOBAL CROSSING TO ADD NEW 2.5 TERABIT-PER-SECOND ATLANTIC CABLE - Huge Capacity, US dollars 500-Million Cable Will Meet Soaring Demand in Europe - The single new cable features world's highest undersea capacity and adds 25 times the capacity of all existing trans-Atlantic cables. - Explosion of Internet use in Europe expected to grow bandwidth demand on the Atlantic route at about 80 percent per year. - Service for added cable is scheduled to commence in the first quarter of 2001. - Atlantic Crossing 2 adds double-redundancy to Global Crossing's existing undersea Atlantic Crossing 1. Hamilton, Bermuda, March 24 (TTNN) - Global Crossing Ltd. (Nasdaq: GBLX), the owner and operator of the world's most advanced IP-based fiber optic network, today announced Atlantic Crossing 2, a new undersea fiber optic cable linking the major cities of Europe with the Americas and Asia. This single new cable, at 2.5 terabits-per-second, represents an undersea capacity increase of more than 25 times what is now available on the trans-Atlantic route -- twice the capacity of any undersea cable previously announced. Global Crossing is in the final stages of its selection of vendors to manufacture and build the new system. Atlantic Crossing 2 (AC-2) will be integrated with Atlantic Crossing 1 (AC-1), which is already in service. AC-2 will add a third high-capacity cable across the Atlantic for the Global Crossing Network. The new undersea system will cost approximately US dollars 500 million and is expected to be in service in the first quarter of 2001. To ensure added robustness for its trans-Atlantic cables, Global Crossing is planning landing sites for AC-2 that are distanced from where AC-1 comes ashore. Under active consideration for the new cable are sites in the UK and Ireland for the eastern landing and sites to the west in the U.S. along the New England or New York State shoreline. ''With this announcement and our planned merger with Frontier Corporation in the U.S., we are moving to the highest capacity global fiber optic network in the world,'' said Robert Annunziata, chief executive officer of Global Crossing. ''Analysts forecast bandwidth demand on the Atlantic route to grow at about 80 percent per year, driven primarily by the explosion of the Internet use in Europe. The addition of Frontier's fiber-optic network in the United States and now the double-redundancy of our trans-Atlantic cables ensure that national telephone providers, data-centric multinational corporations, and Internet providers in the Americas and Asia have guaranteed connectivity with the major cities of Europe. By using the latest technology, we will be sure that no competitor will have a cost advantage over us.'' Growing global network The addition of AC-2 adds redundancy and reliability to the Global Crossing Network. Other Global Crossing areas of connectivity already announced include: -- Trans-Atlantic -- connecting the United States, the United Kingdom, the Netherlands, and Germany (entered service in May of 1998). -- Mid-Atlantic -- connecting the Eastern U.S. with the Caribbean. -- Central America and the Caribbean -- connecting the Western U.S., Mexico, Central America, the Caribbean, and South America. -- Trans-Pacific -- connecting the Western United States and Japan. -- Europe -- connecting with 24 of the top cities of Europe. -- Japan -- connecting with the top three cities in Japan. -- South America -- connecting the top cities of South America with the rest of the Americas, Europe, and Asia. ''The new cable at 2.5 terabits per second will have more than twice the capacity of any undersea cable announced or built in the world,'' added Annunziata. ''We have three goals uppermost in our minds in going ahead with AC-2: First, Global Crossing is committed to remaining the low-cost provider in global connectivity through the use of the most advanced technology available. Second, given the rapid growth in demand among users in North America and Europe, we are determined to be able to meet capacity needs not just today but for the future. Finally, nothing is more critical to our customers than reliability and we are proud to provide them with the first double-redundant system across the Atlantic for their traffic needs.'' About Global Crossing Global Crossing is building and operating the world's most advanced global IP-based fiber optic platform for data, voice, video and Internet transmissions. The Global Crossing Network will span four continents and address 80 percent of the world's international traffic. Global Crossing's operations are headquartered in Hamilton, Bermuda, with holding company headquarters in Los Angeles, and offices in New York City; Morristown, New Jersey; San Francisco; Miami; London; Amsterdam; and Buenos Aires. Statements made in this press release that state the Company's or management intentions, beliefs, expectations or predictions for the future are forward-looking statements. It is important to note that the Company's actual results could differ materially from those projected in such forward-looking statements. Information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the Company's filings with the U.S. Securities and Exchange Commission (SEC). Copies of these filings may be obtained by contacting the Company or the SEC. Contact: Investors/analysts: Jensen Chow, tel California +1 310-385-5283, jchow@globalcrossing.com, Press: Tom Goff, tel +1 310-385-5231, tgoff@globalcrossing.com, both of Global Crossing Web site: http://www.globalcrossing.bm